DEARBORN, MI- Ford Motor Co. is investing $500 million and add 300 new jobs at one of its plants in Ohio to support production of a new 2.7-liter EcoBoost engine for the next-generation F-150.

The investment, according to Ford, is for a new flexible engine assembly system and renovation of 700,000 square feet of the facility for machining and assembly functions.

The new V6 engine, according to Ford, was specifically engineered for the next-generation pickup. Officials say the high-output, twin-turbo comes with standard auto start-stop and a new design that "delivers power and performance in a strong and smart package."

“Our truck customers have spoken, and we continue to meet their evolving needs by providing another V6 option in the all-new 2015 F-150,” said Joe Hinrichs, Ford president of The Americas, in a statement.

The $500 million in upgrades, according to a Ford spokeswoman, are already nearing completion.

Hinrichs and other officials are expected to officially announce the investment and jobs later today during a special event at the facility, which is located about 75 miles south of the Michigan-Ohio border.

Ford Motor Co. plalns to invest $500 million and add 300 new jobs at one of its plants in Ohio to support production of a new 2.7-liter EcoBoost engine for the next-generation F-150.Ford

Ford said the 2.7-liter V6 EcoBoost delivers the performance of a mid-range V8 with greater efficiency, and builds on strong sales of V6 engine-equipped F-150. The Dearborn-based automaker reports 57 percent of new customers in 2014 have opted for either a 3.7-liter V6 or 3.5-liter V6 EcoBoost over a V8 to power their new F-150.

Lima Engine Plant’s more than 900 employees currently produce the 3.5-liter and 3.7-liter Duratec V6 engines for multiple Ford vehicles, including Edge and Explorer utilities, as well as the Lincoln MKX crossover, MKT utility and MKZ sedan.

The new jobs will be a mix of new and transfer employees, according to Ford.

Along with the all-new 2.7-liter EcoBoost, the new F-150 will feature a complete lineup of powertrains to let customers tailor the nation’s best-selling truck to their needs. The 3.5-liter EcoBoost engine returns, an all-new normally aspirated 3.5-liter V6 debuts and there is an improved 5.0-liter V8.

In the three years since Ford launched the 3.5-liter EcoBoost in F-150, the company has sold more than 2 million EcoBoost-powered vehicles. In the three years since Ford launched the 3.5-liter EcoBoost in F-150, the company has sold more than 2 million EcoBoost-powered vehicles.

The 2015 F-150 is scheduled to arrive in dealership late this year, according to Ford. The company has not release pricing, performance or fuel economy estimates for the new pickup, which officials expect to continue the company’s pickup dominance.

F-150 is part of the Ford F-Series truck lineup, America’s best-selling truck for 37 consecutive years and America’s best-selling vehicle for 32 years.